Bonita Industries is constructing a building. Construction began on January 1 and was completed on December 31.

Expenditures were

$6480000 on March 1,

$5260000 on June 1, and

$8250000 on December 31.

Bonita Industries borrowed $3180000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6350000 note payable and an 11%, 4-year, $12350000 note payable. What amount of interest should be charged to expense?

Select answer from the options below

$7779764

$1048164

$1993500

$1429764